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Technology consulting company Accenture announced today a new business process outsourcing company that focuses specifically on procurement processes.

The new business line, Accenture Procurement Solutions, offers outsourced sourcing-to-settlement services to both corporate and government businesses. The idea is to offer strategic sourcing, procure-to-pay transaction processing, and supplier and contract management capabilities, coupled with services for technology design, build, hosting and support.

Procurement is not a new business area for Accenture, based in New York, which has been offering outsourced procurement services for the past 10 years. The company currently has six clients—including itself—and processes about $10 billion in procurement transactions and nearly $5 billion in procurement spending each year, officials said.
Accenture has a half dozen additional business process outsourcing areas it serves, including finance and accounting, human resources, learning services, supply chain management and customer relationship management.

Nine-year Accenture partner Len Sherman has been named president of the new Procurement Solutions company.